The chief executive of ByteDance, owner of TikTok and its Chinese sibling Douyin, said the company lacks a sense of crisis, which has made the Chinese social media giant slow and inefficient in the face of fierce competition. That introspection was made by Liang Rubo – co-founder of ByteDance who took over as its chief … Read more
The 52-year-old Ma, who kept a low profile during China’s 32-month crackdown on Big Tech firms, delivered that positive message in a speech before Tencent’s annual staff meeting on Monday at a stadium in Shenzhen, the company’s home city in southern Guangdong province. Founded in November 1998, Tencent must find new lifelines in its video … Read more
WeChat’s short video and live streaming function enabled the platform to record nearly triple gross merchandise volume (GMV) in 2023, according to information released on Thursday during the app’s annual Open Class Pro developer conference held in Guangzhou, capital of southern Guangdong province. While the platform’s exact GMV figures were not released, conference attendees were … Read more
This move was “not totally unexpected, given investors have been waiting for more details in past years”, Jefferies equity analysts Thomas Chong and Zoey Zong said in a research note on Monday, following Baidu’s announcement. They indicated that China’s internet sector “has been undergoing changes”, which reflects Baidu’s focus on generative AI. “For Baidu, Ernie … Read more
